TPI Composites, Inc. - TPIC STOCK NEWS

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TPI Composites, Inc. (Nasdaq: TPIC) is the largest independent manufacturer of composite wind blades in the United States. With over five decades of expertise in the industry, TPI specializes in producing high-strength, lightweight, and durable composite structures for the wind energy market. The company operates manufacturing facilities in North America, Europe, and Asia, and maintains engineering development centers in Denmark and Germany, along with global service training centers in the U.S. and Spain.

TPI's core business involves the manufacturing of composite wind blades, primarily supporting global wind turbine manufacturers. Their advanced composite technology allows them to build near aerospace-grade parts at industrial prices, offering competitive and high-quality products. In addition to wind energy, TPI serves the transportation industry, manufacturing composite structures for buses, rail, theme parks, and trucks.

Recently, TPI expanded its partnership with Nordex in Türkiye, enhancing their decade-long collaboration to deliver cost-effective solutions for the European market. They have also deepened their relationship with GE Vernova, further cementing their position in the U.S. wind market.

In an innovative move, TPI has partnered with the University of Maine Advanced Structures and Composites Center and Oak Ridge National Laboratory to utilize one of the world's largest 3D printers for producing wind turbine tooling. This initiative aims to reduce manufacturing costs and improve production efficiency.

TPI has been making significant strides in financial performance as well. The company reported a net income of $11.6 million for Q4 2023, a turnaround from a loss of $41.9 million in the same period in 2022. This financial recovery was bolstered by a gain on extinguishment of debt associated with refinancing their Series A Preferred Stock.

Moreover, TPI has contributed to the Kenworth SuperTruck 2 program, showcasing an all-composite cab that offers significant weight reduction and improved aerodynamics. This project aligns with TPI's commitment to sustainable and innovative solutions in the transportation sector.

Overall, TPI Composites continues to leverage its advanced composite manufacturing technology and expertise to deliver sustainable solutions for the wind and transportation markets, aiming to decarbonize and electrify the world.

04/11/2024 04:05 PM

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TPI Composites, Inc. Announces First Quarter 2024 Earnings Release Date and Conference Call

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TPI Composites, Inc. announced the release of its first quarter 2024 results on May 2, 2024, followed by a conference call. Investors can access the call via phone or webcast. Replay options are available for interested parties until May 16, 2024.

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04/09/2024 04:05 PM

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Edward Hall Nominated to Join the Board of Directors of TPI Composites, Inc.

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TPI Composites, Inc. (TPIC) announced the nomination of Edward Hall to its board of directors, with Philip Deutch and Linda Hudson retiring. Hall brings 35 years of experience in the electricity industry, enhancing TPI's strategic direction. The changes are effective after the annual meeting on May 29, 2024.

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03/28/2024 04:05 PM

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TPI Composites, Inc. Publishes its Annual Sustainability Report Reaffirming Its Commitments to a Zero-Harm Culture and Carbon Neutrality

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TPI Composites, Inc. published its 2023 sustainability report, emphasizing its commitment to renewable energy and sustainability goals. The report highlights achievements in safety, diversity, waste reduction, carbon neutrality, and supply chain collaboration.

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02/22/2024 04:05 PM

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TPI Composites, Inc. Announces Fourth Quarter and Full Year 2023 Earnings Results; Enhanced Liquidity Position and Projects Improved Profitability for the Second Half of 2024

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TPI Composites, Inc. reported Q4 and FY 2023 financial results, showcasing a strong liquidity position and strategic initiatives. The company refinanced Oaktree's Series A Preferred Stock, improved liquidity by $190 million, and reduced future obligations by up to $90 million. Despite a decrease in net sales, TPI expects improved financial performance in 2024, with profitability increasing significantly in the second half of the year. Adjusted EBITDA levels are projected to exceed $100 million annually starting in 2025.

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02/01/2024 04:05 PM

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TPI Composites, Inc. Announces Fourth Quarter and Full Year 2023 Earnings Release Date and Conference Call

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TPI Composites, Inc. will release its Q4 and full year 2023 results on February 22, 2024, followed by a conference call. Interested parties can access the call via phone or webcast. The replay will be available until March 7, 2024.

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01/11/2024 04:05 PM

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TPI and GE Vernova Expand Contract in Mexico

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TPI Composites, Inc. (TPIC) announces expanded supply agreements with GE Vernova in Mexico, including additional production lines in a third facility within TPI’s Juarez campus to manufacture wind turbine blades for the US market. The partnership aims to support GE Vernova's competitiveness in serving the US market and signifies a new level of technical collaboration between the two companies. TPI has been manufacturing wind blades for GE Vernova since 2008.

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12/19/2023 08:00 AM

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TPI and Nordex Extend and Expand Contract in Türkiye

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TPI Composites, Inc. (TPIC) extends and expands supply agreements with Nordex in Türkiye, adding two lines of manufacturing capacity and extending the term of the agreements for up to three years through 2026.

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12/14/2023 09:15 AM

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TPI Composites, Inc. Announces Refinancing Transaction with Oaktree, Significantly Strengthening Company’s Liquidity Position and Enhancing Financial Flexibility

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TPI Composites, Inc. (Nasdaq: TPIC) announced a refinancing agreement with Oaktree Capital Management, L.P., converting $436 million Series A Preferred Stock into a $393 million senior secured term loan and exchanging the remaining $43 million into common equity. The maturity of the term loan was extended to March 31, 2027, providing improved liquidity of approximately $190 million and reducing future obligations by up to $90 million. The transaction eliminates prepayment penalties and financial maintenance covenants, offering significant refinancing flexibility.

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11/27/2023 02:45 PM

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TPI Composites, Inc. Appoints Charles Stroo as Chief Operating Officer, Wind

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TPI Composites appoints Charles (Chuck) Stroo as Chief Operating Officer, Wind, effective November 27, 2023. Chuck will lead TPI’s global wind manufacturing operations. Chuck previously served in multiple operational roles at Collins Aerospace, most recently as Vice President of Power & Controls Operations. TPI's CEO, Bill Siwek, expressed excitement about Chuck's appointment, citing his global operational background as crucial for the company's long-term profitable growth.

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11/02/2023 04:05 PM

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TPI Composites, Inc. Announces Third Quarter 2023 Earnings Results

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TPI Composites, Inc. reported financial results for Q3 2023, with net sales of $372.9 million, a decrease of 3.0% compared to the same period last year. The company finished the quarter with $161 million of unrestricted cash. Net loss from continuing operations was $72.8 million, and adjusted EBITDA was a loss of $27.4 million. The company provided updated guidance for full-year 2023, expecting net sales of approximately $1.5 billion and an adjusted EBITDA margin loss of around 5%.

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FAQ

What is the current stock price of TPI Composites (TPIC)?

The current stock price of TPI Composites (TPIC) is $2.4 as of December 20, 2024.

What is the market cap of TPI Composites (TPIC)?

The market cap of TPI Composites (TPIC) is approximately 61.6M.

What does TPI Composites, Inc. specialize in?

TPI Composites specializes in manufacturing high-strength, lightweight, and durable composite wind blades for the wind energy market.

Where are TPI Composites' manufacturing facilities located?

TPI operates manufacturing facilities in North America, Europe, and Asia, with additional engineering development centers in Denmark and Germany.

What recent partnerships has TPI Composites announced?

TPI recently expanded its partnership with Nordex in Türkiye and deepened its relationship with GE Vernova to serve the European and U.S. wind markets respectively.

What financial performance did TPI Composites report for Q4 2023?

TPI reported a net income of $11.6 million for Q4 2023, compared to a loss of $41.9 million in the same period in 2022.

What is the significance of TPI's partnership with the University of Maine and Oak Ridge National Laboratory?

This partnership aims to utilize 3D printing technology to reduce manufacturing costs and improve production efficiency for wind turbine tooling.

What markets does TPI Composites serve besides wind energy?

Besides wind energy, TPI serves the transportation industry, manufacturing composite structures for buses, rail, theme parks, and trucks.

What is TPI Composites' role in the Kenworth SuperTruck 2 program?

TPI engineered and manufactured an all-composite cab for the Kenworth SuperTruck 2, which is 20% lighter and more aerodynamic compared to traditional metallic cabs.

How does TPI Composites contribute to sustainability?

TPI focuses on innovative and sustainable solutions to decarbonize and electrify the world, providing high-quality composite products that enhance energy efficiency.

What advanced technology does TPI use in its manufacturing process?

TPI uses advanced composite manufacturing technology to produce near aerospace-grade parts at industrial prices, ensuring high quality and competitive costs.